Guangzhou to get 8,000 hi-tech enterprises by 2020

By the end of 2017, the total number of Guangzhou's hi-tech enterprises reached 7,000 and the number is expected to hit 8,000 by 2020, according to an action plan formulated by Guangzhou science technology and innovation commission.

The action plan was made to promote the incubation and development of high and new-technology enterprises in Guangzhou and offer support to the construction of a national scientific and technological industry innovation center.

Over the past few years, Guangzhou has been strengthening its efforts to develop its IAB industries (referring to the next generation of information technology, artificial intelligence and biological medicine) and NEM industries (referring to new energy industry and new materials industry). 

By the end of 2016, Guangzhou had 4,739 high-tech enterprises, 2.9 times of the number in 2014.